Recent research has revealed that credit unions' tightened lending approach is backfiring, becoming detrimental to both borrowers and lenders. In their attempt to maintain high credit quality, many credit unions (CUs) have missed valuable lending opportunities and lost some of their reputations as lenders focused on serving average, working-class people. Many CUs have reported extremely low delinquencies and charge-off rates, which has sparked concern among lending officers who think they're missing opportunities to fulfill member needs. Thankfully, there are ways to make up for all those lost loans.
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